Guideline Value for Pallavan Nagar

Pallavan Nagar guideline value

The current guideline value of Pallavan Nagar in Katrampakkam village is Rs 500 per sq.ft, effective from 1 July 2024. This area falls under the Sriperumpudur Sub Registrar Office (SRO) and is classified as Residential Special Type - I.

How the guideline value of Pallavan Nagar has changed

The guideline value of Pallavan Nagar has seen several revisions over the years. In 2007, the value was Rs 125 per sq.ft, which increased significantly to Rs 500 per sq.ft in 2012. However, it then decreased to Rs 335 per sq.ft in 2017, before remaining stable at Rs 500 per sq.ft in both the 2023 and 2024 revisions. Notably, there are no figures available for the years 2002 and 2003 in the register for this street.

From 2017 to 2023, the guideline value increased by 49%, while the overall change from 2007 to 2024 reflects a substantial increase of 300%. The values remained unchanged between the 2023 and 2024 revisions, indicating stability in the current rate.

Guideline values in Katrampakkam

In Katrampakkam, there are 41 streets under the Sriperumpudur SRO that carry a 2024 guideline value ranging from Rs 150 to Rs 800 per sq.ft, with a median of Rs 250 per sq.ft. Pallavan Nagar's 2024 guideline value of Rs 500 per sq.ft is above this median.

• Pakiya Nagar: Rs 300 per sq.ft (2024)
• Perumal Koil Street: Rs 250 per sq.ft (2024)
• New Bank of India Colony: Rs 300 per sq.ft (2024)
• Poongavanaththamman Koil Street: Rs 250 per sq.ft (2024)
• Naari Kazhani Street: Rs 150 per sq.ft (2024)
• Quidemillath Nagar: Rs 250 per sq.ft (2024)

Stamp duty and registration fee for property in Pallavan Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 500 per sq.ft, the total guideline value would be Rs 5,00,000. The stamp duty at 7% would amount to Rs 35,000, and the registration fee at 2% would be Rs 10,000, making the total cost for these fees Rs 45,000. It is important to note that duty is charged on the higher of the guideline value or the sale price.

You can use our stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Pallavan Nagar?

The Sub Registrar Office that covers Pallavan Nagar is the Sriperumpudur Sub Registrar Office, located at 27, Chetty Street, Sriperumpudur-602 105, Chengalpattu registration zone. You can find your SRO for further assistance.

How the guideline value is used when you buy or sell in Katrampakkam

The guideline value is a critical factor in the registration process when buying or selling property in Katrampakkam. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid during the transaction.

When a property is registered, the guideline value is used to calculate the applicable duties, ensuring that both the buyer and seller are aware of the financial implications involved in the sale.

Frequently asked questions

What is the current guideline value of Pallavan Nagar?

The current guideline value of Pallavan Nagar is Rs 500 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 125 per sq.ft in 2007 to Rs 500 per sq.ft in 2012, then decreased to Rs 335 per sq.ft in 2017, and has remained at Rs 500 per sq.ft in 2023 and 2024.

What is the land classification of Pallavan Nagar?

Pallavan Nagar is classified as Residential Special Type - I under the current land classification.

What are the stamp duty and registration fees for property in Pallavan Nagar?

For a property valued at Rs 5,00,000, the stamp duty would be Rs 35,000 and the registration fee would be Rs 10,000, totaling Rs 45,000.

Which office handles registrations for Pallavan Nagar?

The Sriperumpudur Sub Registrar Office handles registrations for Pallavan Nagar, located at 27, Chetty Street, Sriperumpudur-602 105, Chengalpattu registration zone.